Today’s news in brief – 12/01/24

Nightcap revenues jumped to £7.4m, spelling a 65.7% rise over Christmas. As a result, revenues for the entire of December 2023 were the largest monthly revenues in its nearly three-year history since IPO. Total December unaudited group revenues were £9.2m against £5.9m for December 2022, an increase of 55.9% and a like-for-like increase of 4.6%.

TDR Capital has secured a majority stake in Popeyes UK following a subsequent investment.  The news comes after TDR made a £50m investment in Popeyes last year and has since raised its ownership to effectively overtake dual partner Ring International Holdings, who hold a minor stake.

Tenanted pub companies made up 23% of freehold buyers in 2023, compared with 12% in 2022, according to data from Christie and Co. Activity was dominated by independent deals during H1 2023, with private buyers exhibiting a strong appetite for assets valued below £600k. Alongside this, 86% of Christie and Co pub sales were sold for continued use demonstrating long-term outlook investors hold for the sector.

Workshop Coffee has appointed David Read as the company’s chairman. Read is joining the board of directors with over 50 years of experience in the food, drink and hospitality industry. The news follows a recent run of B2B new business wins that include The Langham, 1 Hotel Mayfair, Hilton Park Lane, Sofitel St. James and Raffles London.